While the IEC has a lifetime validity, the DGFT has made annual IEC renewal mandatory for all IEC holders.
At JPARKS INDIA, we have renewed hundreds of IEC codes for our clients. This article covers everything you need to know about IEC code renewal process and a step by step guide for IEC renewal in 2023.
As per Trade Notice 31/2021-22 of the DGFT It is mandatory for all IEC holders to update or renew IEC code every year between April to June period.
Note: Updating your IEC is a requirement regardless of whether changes will be made.
This has been done to ensure the details of an Importer or Exporter are up to date.
The annual renewal of IEC code is compulsory for all IEC holders, and failure to do so may lead to deactivation of the IEC code.
If you fail to renew your IEC code, it will get deactivated.
While your IEC may remain valid for a while even if you complete the annual IEC renewal between April and June, you won’t be notified when the IEC gets deactivated.
This is because the IEC deactivation is not carried out by the DGFT immediately but in phases. Not complying to annual IEC renewal will lead to unnecessary delays at the time of import or export.
Note: All IECs which haven’t been updated or renewed after 2014, are deactivated.
At JPARKS INDIA, we ensure that our client’s IECs are annually updated so they never face any issues due to a deactivated IEC while importing or exporting.
We recommend that you always check if your IEC is valid before importing or exporting goods.
To check the status of your IEC, you must use the DGFT portal.
A deactivated IEC can significantly impact your business operations by
Furthermore, banks require an active IEC for any international transactions related to your business, whether sending money abroad or receiving money from overseas.
You need to renew import export license fast.
To renew your deactivated IEC, all your have to do is update it on the DGFT portal. Once you successfully update it, the IEC renewal will be auto-approved and the status will start showing as ‘valid’.
Here are all the steps you need to follow to renew your IEC.
Note: Except for proprietors, all other IEC holders must use DGFT IEC-based DSC to update their IECs on the DGFT portal. Don’t have one? call now +91 9167379073
Once done the IEC status will start showing as ‘Valid’ and the IEC renewal process is done.
Your IEC should be renewed within a few hours. It does take a day for the IEC status to be updated on the IceGate Portal.
The IEC renewal fees charged by the DGFT is Rs. 200/-
However, if needed, you may hire a professionals like us to renew your IEC code.
The consultancy fees for IEC renewal ranges between Rs. 2,000/- to Rs. 3,500/- on average.
At JPARKS INDIA, we renew your IEC for Rs. 1500/- only and that too within 24 hours of receiving all documents. Need help? Call us +91 9167379073
At JPARKS INDIA Pvt. Ltd., we are expert DGFT consultants with over 30 years of industry experience. We renew and reactivate hundreds of IECs every year. As a result, we have resolved all types of complicated IEC-related problems for our clients.
We guarantee a 24-hour IEC renewal service for just Rs. 1,500/-
A deactivated IEC can be reactivated simply by updating it on the DGFT Portal. This process is called IEC renewal. Please read our blog on IEC renewal to learn how you can renew your IEC.
A deactivated IEC is as good as not having an IEC. You can’t Import or Export from or to India until you renew your IEC. If you have already imported an item, it may lead to fines or penalties from customs as the consignment will be held up.
To link your deactivated IEC to DGFT, create an account on the DGFT portal and click on “Link IEC”. Follow the steps to complete the IEC link. Note: Just linking the deactivated IEC does not reactivate it.
Non-updation of IEC may lead to deactivation. There is no such penalty for non-updation but you may face fines in case you try to Import or Export with a deactivated IEC.
No, you can’t export with a deactivated IEC. You must renew IEC code first.
No, you can’t import with a deactivated IEC. You must renew your IEC before importing.
No, you can’t renew IEC code offline. The only way to reactivate your IEC is online on the DGFT portal.
The IEC can generally be reactivated in a few hours, but it may also take up to 3-5 days incase any issue is found in your application and some discrepancy is found.